GoCompare. the price comparison website, has a new boss but could well be sold off by its owners esure.
The motor insurance specialist, which took control of the website last year, announced it would carry out a “strategic review” of the business which could result in it being spun off.
Esure, which bought GoCompare for £95m, said profits at the website are now expected to improve by 20-30 per cent after it revamped its marketing strategy and focused the website on a wider range of comparison products.
However, it said the review could include “a potential demerger” of the business and it would “update shareholders on this review as and when appropriate”.
The company also announced the appointment of Matthew Crummack as its new chief executive.
Mr Crummack, who had previously served as the boss of lastminute.com and was a senior vice president at Expedia, replaces John Morrell, who leaves the company.
Source: Fast FT